The chart below presents the closed equity produced by Atlas-35
trading system for May 2001. For trade by trade
details,
click on System Trading
Report.

The chart shows the daily closed
and open equity as well as the cumulative commissions
for the month of May, 2001. The results include $100
round turn trade commissions and
0.125% per side trade slippages.
For this period Atlas-35
trading system has
produced total net gain of $7,878 after commissions and slippages, trading one contract from basket
of 35 tradable commodities. The max
monthly drawdown was $5,262. The equity of the open positions as of
05/31/2001 was -$1,467.

DISCLAIMER: 'HYPOTHETICAL
OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN
ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL
TRADING. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY
HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET
FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE
ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT.
NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFITS OR LOSSES SIMILAR TO THOSE SHOWN."